By Mike Caggeso Staff Writer Bear Stearns Cos. Inc. (BSC) and Asia's largest securities firm, China Citic Securities Co., agreed to invest $1 billion in each other. The deal secures broad access to China investment-banking business for Bear Stearns, who lags in China investments compared to its rival Wall Street securities firms. Its third-quarter profit […]
Archives for October 2007
October 2007 - Page 4 of 13 - Money Morning - Only the News You Can Profit From
Global Business News Roundup
Noah IPO Soars; Deal for TMB Bank; Luminent Sues; Resolution Says No Deal; UK High Court Rejects Claim; Bridgestone Expands Shares of Noah Education Holdings Ltd (NED), a China-based provider of online-learning services, soared Friday, the day after its initial public offering (IPO) debuted way above its projected range, Reuters reported. The shares opened at […]
Oil Heads For $100 a Barrel, While Some Speculators Brace for a Correction
By Jason Simpkins Staff Writer Oil prices may be headed for $100 a barrel by the end of the year, after speculators successfully pushed crude oil prices through the $90 a barrel level late last week. But many Contrarian Investors believe that – despite the continued strong worldwide demand for oil – prices are already […]
Fed Official Offers Assurance
From Staff Reports U.S. Federal Reserve Governor Randall Kroszner yesterday (Monday) assured investors that the central bank would take the necessary steps to protect the economy and to foster growth. "The Federal Reserve will continue to monitor developments in financial markets and act as needed to support the effective functioning of these markets and to […]
Caterpillar Hauls a 21% 3Q Profit Growth, Cuts its 2007 Estimates
By Mike Caggeso Staff Writer Caterpillar Inc.’s (CAT) last week reported a 21% gain in third-quarter profit, but then cut its earnings outlook for the rest of the year, citing the slowing U.S. economy and the lousy U.S. housing market. The Peoria, Ill-based ]heavy-equipment manufacturer reported net income of $927 million, an increase of 21% […]
Chinese Inflation Continues Unabated, Reported at 6.2% for September
By Jason Simpkins Staff Writer China had a 6.2% inflation rate for September, and can expect inflation to continue at that high rate for “a few months,” – despite renewed efforts to hold down the general level of prices – the National Development and Reform Commission, China’s top agency for economic planning, has reported. The […]
The One Russian Emerging Market With the Most Profit Promise
By Martin Hutchinson Director of Global Investing Research Readers may well have missed the news that Ukraine is currently putting together a new coalition government led by reformist Julia Tymoshenko. “So what?” you may ask. “I can’t know everything. And besides, how do you ever expect me to make a buck out of Ukrainian politics, […]
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Record Oil Prices Continue to Push Canada’s Dollar, Inflation
From Staff Reports Surging oil prices have pushed inflation in Canada to its highest rate since May 2006, Bloomberg reported Friday. And right behind it, not surprisingly, Canada’s dollar hit a 33-year high of $1.0344 (one dollar equals 96.67 Canadian cents) — quelling U.S. hopes the Bank of Canada would cut interests rates. The Canadian […]
Energy and Earnings: The Week That Was in the U.S. Markets For the Week Ended Oct. 19, 2007
Market Matters… The “E’s” have it…Energy and Earnings, that is. Both topics dominated the news this week and, unfortunately, pessimism returned to the marketplace. Let’s look at the first “E” – Energy. While many analysts had predicted oil to fall as the summer driving and hurricane seasons came to a close, traders instead kept pushing […]